"ADMIRABLY CALM"

Evening Post, Volume CXXV, Issue 100, 30 April 1938, Page 11

"ADMIRABLY CALM"

LONDON EXCHANGE

BUDGET'S RECEPTION

COMMODITY MARKETS WEAK

(By Telegraph.—Press Assn.—Copyright.)

(Received April 30, 12.30 p.m.)

LONDON, April 29.

The London Stock Exchange received the Budget with admirable calmness, and. selling on the part of professionals proved to be mistaken: Prices, though inclined to sag at the end of the week owing to the disappointing behaviour of Wall Street, ,show little change. On the other hand, some sections, notably gold shares, continued their upward movement.

Commodities are inclined to be weak. Non-ferrous metals, rubber, and cotton are all easier.

Reports from the industrial centres continue to be discouraging. The Board of Trade's* retail trade statistics for March show a decline of 3.7 per cent, compared with February. The consumption of coal is declining, and' export orders for coal are not improving. The iron and steel industries are quiet.

The consumption of cotton goods is still below the production level, but ■the volume of orders in the wool'and textile trade is slightly larger. Foodstuffs are firm. (British Official Wireless.) (Received April 30, 12.30 p.m.) RUGBY, April 29. The total amount applied for in tenders for £45,000,000 of Treasury bills was £80,315,000. The average rate per cent, 'for bills at three months was 10s 0.99 d, against 10s 2.95 d a week ago.